Um.....yeah. Couple of things. 1- Your statement about
Judgments having to be renewed every two years may...MAY be true in your
area but not everywhere. All this stuff varies by state. Some they can
renew right before judgment is set to expire, some cant renew at all and
a judgment has one duration, period and there are situations everywhere
in between those extremes. Please don't dole out blanket advice when you
dont know the situation.

As to your IRS scenario I'd take that with a HUGE grain of salt. The IRS
plays by a completely different set of rules than normal collectors. And
these rules are few and far between. Even state rules against
garnishment, levy and property seizures are not applicable when its tax
debt. In other words the IRS could care less what your piddly little
state law says you are allowed to keep. They take whatever their own
rules say they can take.

And as to your idea about putting things in a business name to protect
them,again I'll gulp some salt down with that as well. Nice idea
possibly with less determined, powerful players like banks and local
creditors but I wouldnt try that with Uncle Sam.

Unregistered

Sub: #2 A judgment has to be renewed about every two years. If the credMon, 12/20/2010 - 09:12

A
judgment has to be renewed about every two years. If the creditor fails
to do this, then its over!
A good rule to operate under is to make everything in either a trust or
corporation, make it so noone, not even the IRS can take anything of
yours, ever!! Even if you currently have no financial problems, given
the wrecked economy" we are in, that could happen at any time, always be
prepared for it.

Student loans are a hard one to negotiate on. You can
try to contact them, but they will probably not be too willing to work
with you on it. They probably figure that you will return to the US,
and they will try to collect then.

hi,
about 10 years ago i went to college in the US and had student loans,
upon graduateion I moved away from the states and well.... left the
student loans un paid. I am sure they have exploded by now with intrest
late fees etc etc... obviously since I dont live in the USA anymore
they have little ways of collecting it BUT I do want to make payment on
it... is there a way to negotiate after all this time that would allow
me to pay the principle in full only? thanks for your
help

Unregistered

Sub: #5 A caution on income protected form garnishment & levy.
If youWed, 08/05/2009 - 13:55

If you end up with a judgment agianst you for unpaid debt, do not assume
that your bank account wont be levied. It could, and has happened. It is
a bit of a hassle to undo.

If all you have deposited in your account is SSI?SSDI, you will have an
easier go of undoing a wronfully enforced levy. If you have other funds
deposited in that same account, you will have the burden of proving
source of funds etc...

Generally, social secutiry benefits are exempt from
garnishment. So, if that is all you have you will probably not have to
worry about that being effected. I hope things get better for you.
Certified Financial Solutions

How
can I become judgment proof. I am on Social Security and my benefits
have just been reduced by $300 this month and go up to what will be $100
less a month than I was previously getting. I have no other property of
value that can be taken away from me. I have no collaterol whatsoever.
Please help me with this.

When you are explaining to your creditors that you are ‘Judgment
Proof’, it signifies that you are using the most powerful weapon
against them. As the word suggests, that you don’t have type of income
or asset that can be used to pay the debt to the creditors.

Any property that you might be having with you will be getting
"exempted" and you won’t be forced to liquidate it. Even if a sheriff
is assigned to take away your property as per the court judgment, he
can’t take the property that has been "exempted"

There are no legal procedures for becoming a ‘judgment proof’
consumer. This name itself describes your financial condition and there
is nothing that the creditor can take away from
you.

By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.

Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.

Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.

Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.

The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.